Quantbot Technologies LP Acquires 119,832 Shares of Nucor Co. (NYSE:NUE)

Quantbot Technologies LP boosted its stake in Nucor Co. (NYSE:NUE) by 1,062.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 131,116 shares of the basic materials company’s stock after purchasing an additional 119,832 shares during the quarter. Nucor comprises about 0.6% of Quantbot Technologies LP’s investment portfolio, making the stock its 15th largest holding. Quantbot Technologies LP owned about 0.06% of Nucor worth $15,303,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. GSA Capital Partners LLP bought a new position in Nucor in the third quarter valued at $239,000. B. Metzler seel. Sohn & Co. Holding AG acquired a new position in shares of Nucor during the 3rd quarter worth about $1,481,000. Commerce Bank grew its holdings in shares of Nucor by 4.9% in the 3rd quarter. Commerce Bank now owns 16,344 shares of the basic materials company’s stock valued at $2,457,000 after acquiring an additional 758 shares in the last quarter. Citizens Financial Group Inc. RI increased its position in shares of Nucor by 1.7% during the 3rd quarter. Citizens Financial Group Inc. RI now owns 4,629 shares of the basic materials company’s stock worth $696,000 after purchasing an additional 79 shares during the last quarter. Finally, Cornerstone Advisors LLC lifted its stake in Nucor by 26.9% in the third quarter. Cornerstone Advisors LLC now owns 6,600 shares of the basic materials company’s stock valued at $992,000 after acquiring an additional 1,400 shares during the last quarter. Institutional investors own 76.48% of the company’s stock.

Nucor Trading Down 5.8 %

NYSE NUE opened at $122.02 on Friday. Nucor Co. has a 12 month low of $112.25 and a 12 month high of $203.00. The company has a current ratio of 2.51, a quick ratio of 1.48 and a debt-to-equity ratio of 0.27. The firm has a market capitalization of $28.13 billion, a PE ratio of 14.51, a price-to-earnings-growth ratio of 0.96 and a beta of 1.58. The business’s 50-day moving average price is $130.65 and its two-hundred day moving average price is $137.80.

Nucor (NYSE:NUE) last released its earnings results on Monday, January 27th. The basic materials company reported $1.22 earnings per share for the quarter, beating analysts’ consensus estimates of $0.94 by $0.28. Nucor had a net margin of 6.60% and a return on equity of 9.85%. During the same quarter in the prior year, the firm posted $3.16 earnings per share. On average, analysts expect that Nucor Co. will post 7.64 EPS for the current year.

Nucor Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, May 12th. Shareholders of record on Monday, March 31st will be paid a $0.55 dividend. This represents a $2.20 annualized dividend and a yield of 1.80%. The ex-dividend date of this dividend is Monday, March 31st. Nucor’s dividend payout ratio (DPR) is presently 26.16%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. Argus set a $155.00 price objective on shares of Nucor in a research report on Wednesday, March 5th. StockNews.com raised shares of Nucor from a “sell” rating to a “hold” rating in a report on Wednesday, February 12th. UBS Group restated a “neutral” rating and set a $156.00 price objective (down previously from $171.00) on shares of Nucor in a report on Thursday, December 12th. The Goldman Sachs Group started coverage on Nucor in a research note on Monday, December 2nd. They set a “buy” rating and a $190.00 target price on the stock. Finally, JPMorgan Chase & Co. lifted their price target on Nucor from $150.00 to $156.00 and gave the stock an “overweight” rating in a report on Tuesday, March 11th. Four investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Nucor presently has a consensus rating of “Moderate Buy” and a consensus target price of $164.33.

About Nucor

Nucor Corporation engages in manufacture and sale of steel and steel products. It operates in three segments: steel mills, steel products, and raw materials. The Steel Mills segment produces hot-rolled, cold-rolled, and galvanized sheet steel products; plate steel products; wide-flange beams, beam blanks, and H-piling and sheet piling structural steel products; bar steel products, such as blooms, billets, concrete reinforcing and merchant bars, and engineered special bar quality products; and engages in the steel trading and rebar distribution businesses.